Bitcoin skyrockets 12% after one tweet by Elon Musk

Posted On: Jun 14, 2021
Posted By: Osama Tabasam

The price of Bitcoin was up by almost 12 percent to $39,432, wiping out losses from the past week, but still down 34% from last month’s record high. Meanwhile, most of the coins in the top 20 crypto-list experienced a similar upsurge. Tesla’s CEO said the company would begin accepting Bitcoin transactions if the crypto market shifts in favor of clean energy.

This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.

When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
— Elon Musk (@elonmusk) June 13, 2021

The Tesla CEO has tweeted a lot about cryptocurrency recently, pushing bitcoin prices up and down. Despite Musk’s tweets not necessarily being posted for financial gain, they still have a significant effect on cryptocurrencies.

Source: CNN

Osama Tabasam

Tech

17 Fast And Efficient Cars Loved by Pakistanis in 2023

Posted On: Aug 17, 2023
Posted By: News Desk

Fast cars are like excitement machines. In the realm of automotive excellence, fast cars stand as thrilling embodiments of speed, precision, and engineering prowess. These mechanical marvels offer an electrifying experience that transcends mere transportation.

TESLA comes on board as Innovation Partner with Pakistan’s Formula Electric Racing NUST (FERN)

Posted On: Oct 9, 2022
Posted By: News Desk

Formula Electric Racing NUST (FERN) continues to make waves in the tech and automotive arena by scoring significant milestones consistently. In a recent promising development, this team of undergraduates has brought Tesla on board as their innovative partner. This is one of the biggest achievements in the team’s long list of internationally coveted accolades.

Tech

Elon Musk buys Twitter Inc for $44 billion cash

Posted On: Apr 26, 2022
Posted By: News Desk

The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk. Mr Musk, who made the shock bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock. He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts.

YouTube removes Islamic scholar Dr. Israr’s official channel after Israeli pressure

Posted On: Apr 5, 2022
Posted By: News Desk

YouTube has surrendered to the pressure of Israeli media outlets and taken down the official channel of Dr. Israr Ahmed which was named “Dr. Israr Ahmed’s Official Channel.” The biggest video sharing website, YouTube, has taken down the official web channel of Islamic scholar Dr Israr Ahmed over allegations of carrying anti-Semitic comments.